New vehicle sales in Thailand grew by 52% to 65,672 units in July, compared with 43,156 units a year earlier, according to data compiled by Toyota Motor (Thailand).
The country’s economy has rebounded strongly from last year’s recession, with first-half GDP growth estimated at 10%, led by a sharp recovery in exports. Domestic consumption also increased strongly thanks by low overnight interest rates of 1.5%.
Sales of pickup trucks increased by 39.8% to 31,115 units, to account for over 47% of the total market in July. Passenger cars sales rose by over 64% to 28,780 units, or 44% of total sales.
Toyota’s sales increased by 42.6% to 26,182 units in July; followed by Isuzu with 11,701 units (+31.6%); and Honda 10,265 units (+42.6%).
Cumulative sales for the January-July period grew by 53.8% to 422,374 units, compared with 274,584 units a year earlier.